Many consumers commit themselves to debt review only to get cold feet several months later. A recent court ruling provided clarity around exactly how and when an individual may exit debt review.
Tag - debt review
Your joint mortgage may form part of your partner’s debt review without your consent.
There is a misconception that debt intervention proposals currently being considered could mean that some debts are likely to be written off.
After four months of debt review, a reader is so relieved and happy about the changes in his life, he wanted to share his story.
We’ve lost the plot when it comes to borrowing and saving.
Debt review is not as simple as handing over your bills to a debt counsellor – you have to keep track of your credit provider statements
You can withdraw from debt review if your financial situation has changed significantly or you only have your mortgage left to pay.
Lindi wrote to me looking for advice regarding her car repayments. She had fallen behind on her repayments to BMW Finance as her business was in financial difficulty. She wanted to find out if she could hand back the car to the financial institution and what the implications would be on her credit profile. By the time I received the query, BMW...
By Wikus Olivier, debt expert at DebtSafe Debt is an issue that most South Africans unfortunately find themselves facing for most of their adult lives. Every individual deals with different forms and scales of debt, but for some, their debt spirals out of control. This is when a professional debt review service, such as DebtSafe, comes into play...
If you can prove that you are able to start making regular payments, you can request to end your debt review. When Joseph Masemola’s debt began to spin out of control in 2010, he applied for debt review via a debt counsellor. Since then, he has managed to settle and clear all his debt with the exception of a Nedbank personal loan and a...